A condo for $1.685M? Yep, in San Francisco

Posted at 6:10 PM, Feb 03, 2016
and last updated 2016-02-03 20:28:47-05

Think Denver real estate is expensive? Wait until you see the prices being paid in the San Francisco Bay Area.

Real estate agent Robert Callan says the average price for a condo in San Francisco is $1,000-$3,000 per square foot, depending on the neighborhood you're looking in.

That means a 1,000-square foot condo will cost about $1 million. Yes, that's the price of a condo.

While Denver prices are skyrocketing, the average condo value in Denver is around $200,000, according to Zillow.

"Can $200,000 get you anything in San Francisco," Denver7 anchor Anne Trujillo asked Callan.

"A parking space?" Callan said.

Callan explained you'd likely have to drive about 90 miles away from the city to find a condo in the $200,000 range.

If you can afford $1,000 per square foot, there are impressive places.

Callan took Trujillo on a tour of a luxury condo in the desirable neighborhood of Pacific Heights in San Francisco, where he recently sold a 1,700-square foot condo with an asking price of $1.685 million.

While he won't name the selling price, he will admit it sold in three days and he had "multiple offers."

This condo is one of two units on the top floor of a 1921 building.

It features three bedrooms. He says the first bedroom can be used as a guest bedroom or an office:

The master bedroom (below) features beautiful windows, a picture railing near the ceiling and moldings at the floor level.

This is the third bedroom (below):

The kitchen is filled with light because it has a south view.

Callan explained that in San Francisco you pay for light and space and because this is a top floor unit, there's more light.

In the picture above, look closely, you should spot a small space with a stackable washer and dryer.

Since this unit is on the top floor (the third floor), and has no elevator, you don't want to take your laundry elsewhere,

This is the guest bathroom used by visitors and shared by two bedrooms.

The master bedroom has a small en-suite bathroom with a tub/shower combo, toilet and sink.

The dining room is also filled with light from large windows and the floor is oak wood.

The condo does not come with the furniture you see here. It was staged for buyers to see the possibilities.

And here is the living room, complete with a wood-burning fireplace.

It's rare to get a wood-burning fireplace in the city, it is no longer allowed in new construction.

And take a look at the view from the living room.

The condo came with something else that's rare in the city - a parking garage space.

Think the $1.685 million price tag is expensive? Callan said a condo in the Layafette Park area sold for $30 million recently.

"It's a very expensive city," Callan explains. "A lot of tech industry is here, banking."

He explained not only can those workers afford the prices, but some families are able to afford the area because of the equity they've built by owning property in the city over time or having that equity passed down by a family member.

"It's a fun place to live, people don't leave," Callan said. "People love the weather. It's nice here year round. And you're close to wine country, the mountains and skiing."